Etesian Wealth Advisors Inc. Sells 136 Shares of Cardinal Health, Inc. (NYSE:CAH)

Etesian Wealth Advisors Inc. reduced its stake in Cardinal Health, Inc. (NYSE:CAH) by 2.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 5,657 shares of the company’s stock after selling 136 shares during the quarter. Etesian Wealth Advisors Inc.’s holdings in Cardinal Health were worth $669,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Bleakley Financial Group LLC increased its holdings in Cardinal Health by 144.6% during the 4th quarter. Bleakley Financial Group LLC now owns 10,998 shares of the company’s stock worth $1,301,000 after purchasing an additional 6,501 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Cardinal Health by 35.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,520 shares of the company’s stock worth $3,871,000 after buying an additional 8,471 shares in the last quarter. Avitas Wealth Management LLC purchased a new position in shares of Cardinal Health during the fourth quarter valued at $1,466,000. E. Ohman J or Asset Management AB raised its holdings in shares of Cardinal Health by 15.0% in the fourth quarter. E. Ohman J or Asset Management AB now owns 11,500 shares of the company’s stock valued at $1,360,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Patron Partners LLC lifted its stake in Cardinal Health by 6.1% in the fourth quarter. Patron Partners LLC now owns 2,043 shares of the company’s stock worth $242,000 after acquiring an additional 117 shares during the period. 87.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CAH. Morgan Stanley boosted their price target on shares of Cardinal Health from $136.00 to $142.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Wells Fargo & Company boosted their price objective on shares of Cardinal Health from $135.00 to $136.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Mizuho initiated coverage on Cardinal Health in a report on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 price target on the stock. Jefferies Financial Group upgraded Cardinal Health from a “hold” rating to a “buy” rating and upped their price objective for the stock from $140.00 to $150.00 in a research note on Wednesday. Finally, Bank of America raised Cardinal Health from a “neutral” rating to a “buy” rating and raised their price objective for the company from $132.00 to $145.00 in a research report on Monday, January 6th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $136.87.

Cardinal Health Stock Performance

Cardinal Health stock opened at $127.41 on Thursday. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $132.84. The company has a market cap of $30.78 billion, a PE ratio of 23.77, a PEG ratio of 1.46 and a beta of 0.63. The business’s 50-day simple moving average is $122.26 and its two-hundred day simple moving average is $114.83.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. As a group, analysts predict that Cardinal Health, Inc. will post 7.92 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be issued a $0.5056 dividend. This represents a $2.02 annualized dividend and a yield of 1.59%. The ex-dividend date is Tuesday, April 1st. Cardinal Health’s payout ratio is 37.69%.

Cardinal Health Profile

Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.